Saipem wins EUR1.5bn E&C contracts

WCN Editorial Team 11 Jul 2016 AFRICA ENERGY & UTILITIES

Italian company Saipem has secured EUR1.5bn in contracts and variation orders for engineering and construction (E&C) at offshore projects, including the field development project for the Zohr gas field.

Saipem bagged an engineering, procurement, construction and installation (EPCI) contract from Petrobel for the accelerated start-up of the Zohr gas field project off the Egyptian coast in the Mediterranean Sea.

The scope of the work includes the installation of a 26-inch gas export trunkline as well as 14-inch and 8-inch service trunklines. The company will also carry out EPCI work for the field development in deep water — up to 1700m — of 6 wells as well as installation of the umbilical system.

Petrobel, a joint venture between Eni and Egyptian General Petroleum Corporation, is responsible for the development of the Zohr project on behalf of PetroShorouk — a joint venture between Egyptian Natural Gas Holding Company and Eni.

Saipem’s CEO Stefano Cao said: “We are very pleased to have been selected for the important objective of delivering first gas from Zohr before the end of 2017.

“We will mobilize a fleet of vessels with last-generation capabilities, and leverage on our proven expertise and consolidated presence in the area, in order to ensure our clients achieve their targets.”

Work on the project is expected to commence in July 2016 and be completed by the end of 2017.

* Data provided by Timetric's Construction Intelligence Center.

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